pre-ipo isn't the seed round. normally someone comes up with an idea that they get some random people back at Angel round next is a workable business model at pre-seed then to get things started they go Seed. Series A, B, C, D, E etc all follow until pre-IPO which are often notes rather than equity.
sorry if that's telling you things that you already know, lots gets lost on these threads.
Maybe someone in at 20c thinks 77c is a great result? Dunno? I would have preferred to see up by 30% but that's life..
Tissue Repair Ltd IPO 2021, page-23
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